Firehawk CEO Will Edwards is building his company on the idea that 3D-printed propellant, pictured, can replace traditional rocket systems.

A venture fund that works with President-elect Donald Trump’s son, Donald Trump Jr, is leading a $60 million series C investment in rocket motors and propellant startup Firehawk Aerospace, Forbes has learned.

It’s the first defense tech investment for 1789 Capital, which funds companies aligned with a conservative world view. The firm invested $15 million in the deal, which is expected to close this month with additional checks from Draper Associates, Boka Capital and others. The company declined to share the valuation, though a person close to the deal said it was valued at more than $200 million.

Dallas-based Firehawk says it has developed a safer, more stable rocket propellant using 3D printers and a solid rocket motor to burn it, with the goal of replenishing a depleting U.S. arsenal. And it’s had early success securing contracts with the Pentagon and defense contractors. “There's a missile shortage in the United States,” said Omeed Malik, 1789’s president. “This is part of a defense tech investment that enhances the security and competitiveness of the United States.”

The investment comes amid a growing wave of interest in new companies promising to restore America’s defense industrial base to its former glory. Startups like Palantir and Anduril have become behemoths by securing billions in government contracts selling military software and weapons. With obvious ties to the incoming Trump administration, 1789 is positioned to help push Firehawk’s government business.

The firm, which has raised more than $150 million for its first fund, is among a growing coterie of........

© Forbes